While it has been recognized by those skilled in the art that amorphous metals with high saturation magnetization might be used to advantage in electrical apparatus such as distribution and power transformers, such alloys are lacking in necessary ductility and stability for this purpose. Thus, the iron-rich alloy Fe.sub.80 B.sub.20 has a 4.pi.M.sub.s of approximately 16,000 Gauss but begins to crystallize within two hours at about 325.degree. C. and is quite difficult to produce in ductile ribbon form for electrical machinery apparatus. Other amorphous alloys known heretofore have somewhat greater stability and adequate ductility for this purpose, but their saturation magnetization is too low.